The Athens Stock Exchange faced another week of decline, primarily impacted by profit-taking in bank stocks and a lack of new catalysts in the market.
The Athens Stock Exchange experienced significant volatility amidst fragile external balances and a stagnant domestic investment climate. The market has now completed its second consecutive week of declines, remaining below the 2,300 mark due to ongoing corrections in banking stocks. Investors have also engaged in profit-taking on select blue-chip stocks that had previously yielded significant returns, leading to a cautious investor sentiment. In the latest trading session, the General Index showed a negligible drop of -0.09%, closing at 2,273.73 points, having lost approximately two points compared to Thursday's close. The daily fluctuations varied within a range of 20 points, demonstrating the market’s uncertainty, with trading volumes reaching 239.3 million euros, of which 31.3 million euros involved pre-agreed packages. This consistent downward trend underscores the challenges currently facing the Greek stock market, including external pressures and internal factors that may impede recovery. Investors are closely monitoring incoming economic indicators and corporate earnings, suggesting that any potential turnaround will likely depend on favorable developments in both the local and global economic contexts.
